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Segment Reporting | 12 Months Ended
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Dec. 30, 2017
Segment Reporting [Abstract] |
Segment Reporting |
Note 24. | Segment Reporting
The company’s DSD Segment primarily produces fresh packaged breads, buns, rolls, tortillas, and snack cakes and the Warehouse Segment produces fresh and frozen bread and rolls and snack cakes. The company purchased DKB and Alpine during fiscal 2015. See Note 10, Acquisitions, for more detailed disclosures for these acquisitions. DKB is included in our DSD Segment and Alpine is included in our Warehouse Segment. Their results from operations and impact on our total assets are included in the tables below in their respective segment. The company evaluates each segment’s performance based on income or loss before interest and income taxes, excluding unallocated expenses and charges which the company’s management deems to be an overall corporate cost or a cost not reflective of the segments’ core operating businesses. Information regarding the operations of these segments is as follows for fiscal years 2017, 2016, and 2015 (amounts in thousands):
|  | Fiscal 2017 |  |  | Fiscal 2016 |  |  | Fiscal 2015 |
Sales: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 3,383,564 |  |  | $ | 3,347,616 |  |  | $ | 3,242,482 |
Warehouse Segment |  |  | 767,844 |  |  |  | 787,233 |  |  |  | 733,170 |
Eliminations: |  |  |  |  |  |  |  |  |  |  |  |
Sales from Warehouse Segment to DSD Segment |  |  | (165,674 | ) |  |  | (144,525 | ) |  |  | (134,013 | )
Sales from DSD Segment to Warehouse Segment |  |  | (65,001 | ) |  |  | (63,439 | ) |  |  | (63,134 | )
|  | $ | 3,920,733 |  |  | $ | 3,926,885 |  |  | $ | 3,778,505 |
Gain on divestiture: |  |  |  |  |  |  |  |  |  |  |  |
Warehouse Segment |  | $ | 28,875 |  |  | $ | — |  |  | $ | — |
|  | $ | 28,875 |  |  | $ | — |  |  | $ | — |
Multi-employer pension plan withdrawal costs: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 18,268 |  |  | $ | — |  |  | $ | — |
|  | $ | 18,268 |  |  | $ | — |  |  | $ | — |
Restructuring and related impairment charges: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 80,026 |  |  | $ | — |  |  | $ | — |
Warehouse Segment |  |  | 20,122 |  |  |  | — |  |  |  | — |
Unallocated corporate costs |  |  | 3,982 |  |  |  | — |  |  |  | — |
|  | $ | 104,130 |  |  | $ | — |  |  | $ | — |
Impairment of assets: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | — |  |  | $ | 24,877 |  |  | $ | 3,771 |
|  | $ | — |  |  | $ | 24,877 |  |  | $ | 3,771 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 126,485 |  |  | $ | 120,009 |  |  | $ | 115,801 |
Warehouse Segment |  |  | 20,642 |  |  |  | 20,138 |  |  |  | 16,734 |
Unallocated corporate costs(1) |  |  | (408 | ) |  |  | 722 |  |  |  | (360 | )
|  | $ | 146,719 |  |  | $ | 140,869 |  |  | $ | 132,175 |
Income from operations: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 202,669 |  |  | $ | 260,495 |  |  | $ | 302,361 |
Warehouse Segment |  |  | 54,738 |  |  |  | 58,465 |  |  |  | 55,266 |
Unallocated corporate costs(2) |  |  | (94,495 | ) |  |  | (55,070 | ) |  |  | (59,748 | )
|  | $ | 162,912 |  |  | $ | 263,890 |  |  | $ | 297,879 |
Interest expense |  | $ | 36,557 |  |  | $ | 34,905 |  |  | $ | 26,815 |
Interest income |  | $ | (22,938 | ) |  | $ | (20,552 | ) |  | $ | (21,967 | )
Income before income taxes |  | $ | 149,293 |  |  | $ | 249,537 |  |  | $ | 293,031 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
DSD Segment |  | $ | 64,317 |  |  | $ | 61,669 |  |  | $ | 72,148 |
Warehouse Segment |  |  | 6,933 |  |  |  | 16,792 |  |  |  | 9,596 |
Other(3) |  |  | 3,982 |  |  |  | 23,266 |  |  |  | 9,029 |
|  | $ | 75,232 |  |  | $ | 101,727 |  |  | $ | 90,773 |
|  | December 30, 2017 |  |  | December 31, 2016 |
Assets: |  |  |  |  |  |  |  |
DSD Segment |  | $ | 2,270,179 |  |  | $ | 2,344,616 |
Warehouse Segment |  |  | 296,157 |  |  |  | 330,006 |
Other (3) |  |  | 93,388 |  |  |  | 86,446 |
|  | $ | 2,659,724 |  |  | $ | 2,761,068 |
(1) | Represents costs allocated to the company’s corporate head office.
(2) | Represents costs allocated to the company’s corporate head office and pension settlement loss.
(3) | Represents the company’s corporate head office assets including primarily cash and cash equivalents.
Sales by product category in each reportable segment are as follows for fiscal years 2017, 2016, and 2015 (amounts in thousands):
|  | Fiscal 2017 |  |  | Fiscal 2016 |  |  | Fiscal 2015 |
|  | Total |  |  | DSD Segment |  |  | Warehouse Segment |  |  | Total |  |  | DSD Segment |  |  | Warehouse Segment |  |  | Total |  |  | DSD Segment |  |  | Warehouse Segment |
Branded retail |  | $ | 2,299,931 |  |  | $ | 2,149,966 |  |  | $ | 149,965 |  |  | $ | 2,283,526 |  |  | $ | 2,114,142 |  |  | $ | 169,384 |  |  | $ | 2,151,514 |  |  | $ | 2,011,433 |  |  | $ | 140,081 |
Store branded retail |  |  | 582,454 |  |  |  | 470,941 |  |  |  | 111,513 |  |  |  | 582,280 |  |  |  | 464,456 |  |  |  | 117,824 |  |  |  | 571,827 |  |  |  | 457,467 |  |  |  | 114,360 |
Non-retail and other |  |  | 1,038,348 |  |  |  | 697,656 |  |  |  | 340,692 |  |  |  | 1,061,079 |  |  |  | 705,579 |  |  |  | 355,500 |  |  |  | 1,055,164 |  |  |  | 710,448 |  |  |  | 344,716 |
Total |  | $ | 3,920,733 |  |  | $ | 3,318,563 |  |  | $ | 602,170 |  |  | $ | 3,926,885 |  |  | $ | 3,284,177 |  |  | $ | 642,708 |  |  | $ | 3,778,505 |  |  | $ | 3,179,348 |  |  | $ | 599,157 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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